SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Tribune Media Company (TRCO)
NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Tribune Media Company ("Tribune" or the "Company") (NYSE: TRCO). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/trco.
The investigation concerns whether Tribune and certain of its officers and/or directors have violated federal securities laws.
In May 2017, Tribune and Sinclair Broadcasting Group, Inc. ("Sinclair") announced a prospective merger of the two companies (the "Merger"). On July 16, 2018, Federal Communications Commission ("FCC") Chairman Ajit Pai issued a statement expressing "serious concerns" about the Merger. In particular, Chairman Pai stated that "certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law." Chairman Pai's statement signaled that Sinclair was not agreeing to the regulatory requirements necessary to complete the Merger, although Tribune had discussed these station divestitures repeatedly in its public filings since the May 2017 announcement of the Merger. On this news, Tribune's stock price fell $6.44, or 16.7%, to close at $32.12 on July 16, 2018.
If you are aware of any facts relating to this investigation, or purchased Tribune shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/trco. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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